Tivoli and Danske Spil have reached an agreement concerning online casino site TivoliCasino.dk for the operation to be transferred to Danske Spil.
The agreement consists of a payment for the assets related to TivoliCasino.dk, as well as an integrated part where Tivoli will receive royalties from Danske Spil for the use of the brand over the next 10 years.
The agreement has an option to extend if both parties agree.
Tivoli CEO Lars Liebst said: “In 2012, Tivoli established the online casino site TivoliCasino.dk, which quickly gained market share in a growing online casino market. It was a natural step for Tivoli to enter into this industry, as the Tivoli Gardens have offered games within its physical settings for more than 100 years.
“With Danske Spil, Tivoli has found a strong partner which shares our values, and possesses the qualifications needed to grow the brand further in a highly competitive market. We are convinced that the combination of Tivoli’s brand and Danske Spil’s commercial skills, will secure the continued growth of TivoliCasino.dk.”
As an effect of the agreement, Tivoli’s result before tax and extraordinary items has been adjusted from DKK100m (£11.6m) to DKK220m.
